Legg Mason
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Legg Mason
Legg Mason
Traded as NYSELM
S&P 400 Component[1]
Industry Asset management
Founded 1899
Headquarters Baltimore, United States
Key people
Joseph Sullivan (Chairman of the Board, President, CEO)[2]
Products Asset Management
Revenue Decrease $2.66 bln[3] (2015)
Decrease $50.831 mln[3] (2015)
Decrease $-32.91 mln[3] (2015)
AUM US$728 billion (as of 31 March 2017)
Increase $728 bln[4] (2017)
Decrease $4.214 bln[3] (2015)
Number of employees
3,066 (2015)[3]
Website leggmason.com
Legg Mason Headquarters in Baltimore

Legg Mason, Inc. (NYSELM) is an American investment management firm with a focus on asset management and serves customers worldwide. Legg Mason offers products in equities and fixed income, as well as domestic and international liquidity management and alternative investments (via a funds-of-hedge-funds manager).

Created in 1970 through the acquisition of Mason & Co. by Legg & Co to form Legg Mason & Co., Inc., Legg Mason has since become the 20th largest asset manager in the world. Legg Mason serves individual and institutional investors on six continents, and has some $757 billion in aggregated assets under management as of July 31, 2016.[5]

Legg Mason operates using a multi-manager business model, with each of the company's subsidiaries operating independently in its own segment of the asset management industry.[6] It provides global distribution and fosters growth through product development, investing in its existing affiliates, and making new acquisitions.


Legg Mason can trace its earliest roots to George Mackubin & Co., which got its start selling stocks out of a back office in the Baltimore Stock Exchange in 1899.[7] Over time this evolved into Legg & Company, which in 1970 acquired the Newport News, Virginia-based Mason & Company that Raymond A. Mason had founded by 1962. The combined firms' headquarters are in Baltimore.


  • 1899: George Mackubin & Co., predecessor to Legg & Co.,is founded in Baltimore, Maryland.In 1970, it had offices in San Francisco, New York, as well as several in Maryland, with over 400 employees.It was best known for its expertise in the life and casualty insurance industry.
  • 1962: Brokerage firm Mason & Co. is founded by Raymond A. "Chip" Mason in Newport News, Virginia
  • 1967: Mason & Co., with over 80 employees in 4 offices, becomes one of three largest of 15 Virginia-based brokerage firms
  • 1970: Mason & Co. is acquired by Legg & Co to form Legg Mason & Co., Inc, with headquarters in Baltimore, Maryland
  • 1975: Raymond A. Mason becomes Chairman and CEO of Legg Mason & Co., Inc, adding to his existing role as President
  • 1982: Legg Mason Fund Adviser, Inc. is established to manage the company's flagship fund, Legg Mason Value Trust
  • 1983: Legg Mason, Inc. becomes a publicly traded company, with its stock (symbol: LM) listed on the New York Stock Exchange
  • 2005: Legg Mason completes a transaction with Citigroup, transferring its Private Client and Capital Markets business in exchange for Citigroup's asset management business and turning Legg Mason into a pure asset management firm.
  • 2008: Mark R. Fetting becomes CEO of the company, succeeding Raymond A. "Chip" Mason
  • 2013: Joseph A. Sullivan becomes CEO of the company



  • Joseph "Joey" Sullivan, President and Chief Executive Officer
  • Peter "Pete" H. Nachtwey, Chief Financial Officer
  • Terence "Terry" Johnson, Head of Global Distribution
  • Ursula Schliessler, Chief Administrative Officer
  • Thomas Merchant, General Counsel
  • Thomas K. Hoops, Head of Business Development

Business overview

Legg Mason acts through its subsidiaries to provide investment management and related services to its clients, which include institutions as well as individuals. Under the company's multi-manager model, each subsidiary operates with investment autonomy, following its own investment philosophy and implementing its own process.

Investment affiliates

Brandywine Global

  • Year Founded: 1986
  • Year Acquired: 1997
  • Location: Headquartered in Philadelphia; offices in Chicago, San Francisco, Singapore, London

Clarion Partners

  • Year Founded: 1982
  • Year Acquired: 2016
  • Location: Headquartered in New York; offices in Baltimore, Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle, and Washington, D.C.

ClearBridge Investments

  • Year Founded: 2005 (predecessor firms date to 1962)
  • Year Acquired: 2005 (as Citigroup's asset management business)
  • Location: Headquartered in New York; offices in Baltimore, San Francisco and Wilmington


  • Year Founded: 2016 (predecessor firms date back to 1997 and 1973)
  • Year Acquired: 2005 (as The Permal Group)
  • Location: Headquartered in London and New York; offices in Paris, Dubai, Hong Kong, Nassau, Singapore, Boston and Shanghai

Martin Currie

  • Year Founded: 1881
  • Year Acquired: 2014
  • Location: Edinburgh, Scotland

QS Investors

  • Year Founded: 1999
  • Year Acquired: 2014
  • Location: New York

RARE Infrastructure

  • Year Founded: 2006
  • Year Acquired: 2015
  • Location: Sydney, Australia

Royce & Associates

  • Year Founded: 1972
  • Year Acquired: 2001
  • Location: New York

Western Asset Management

  • Year Founded: 1971
  • Year Acquired: 1986
  • Location: Headquartered in Pasadena, California; offices in New York, London, Hong Kong, Melbourne, São Paulo, Singapore, Dubai and Tokyo

Corporate citizenship

In addition to providing its employees with environment-related volunteering opportunities, Legg Mason also implements several corporate ESG initiatives,[9] such as:

  • Becoming a signatory member of the Carbon Disclosure Project and participating in its annual survey.
  • Producing its annual sustainability report based on the Global Reporting Initiative.
  • Legg Mason's headquarters in Baltimore was developed to achieve LEED certification. In 2010, the Legg Mason Tower achieved LEED Certified Gold for the space it occupies in Harbor East.


Legg Mason's headquarters are located in the 100 International Drive building in Baltimore, Maryland. Prior locations were formerly were at Redwood Street, Pratt Street, and 100 Light Street.


External links

  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.



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